Larkin Comments On Proposal To Protect State Pension Funds From Organizations With Terrorist Ties

William J. Larkin, Jr.

June 19, 2007

Senator Bill Larkin (R-C, Cornwall-on-Hudson) today issued the following statement:

"There is currently a bill in the Senate that would direct the State Comptroller not to invest New York’s pension funds in companies that do business with known terrorists, or in nations identified as supporters of terrorism.

Without state sponsors and without companies investing in them, terrorist groups would have much more difficulty obtaining funds, weapons, materials, and hidden locations to plan their crimes.

Investing in companies that do business with or in nations identified as state sponsors of terrorism is indirectly supporting those nations and terrorists.

This bill will ensure that our pension funds do not aid those terrorist nations.

We need to enact this measure immediately.

Currently, there is no sponsor for this bill in the State Assembly.

I call on my Assembly colleagues to take up this issue immediately.

It is extremely important to the safety of our state resources, and it is extremely important to all New Yorkers."